24 CFR §221.1 — Savings clause

fha-24cfr-221-1

24 CFR §221.1, Savings clause. An FHA single family program rule in Subpart A—Eligibility Requirements—Low Cost Homes—Savings Clause of 24 CFR Part 221 (Low Cost and Moderate Income Mortgage Insurance—Savings Clause).

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Verbatim regulatory text (2)

Verbatim provisions from 24 CFR §221.1 — Savings clause — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

24 CFR §221.1(a)

(a) Effective February 20, 2001, the authority to insure mortgages under section 221(d)(2) of the National Housing Act (12 U.S.C. 1715l(d)(2)) for low cost and moderate income mortgage insurance is terminated, except that HUD will endorse for insurance validly processed mortgages under direct endorsement where the credit worksheet was signed by the mortgagee's underwriter before February 20, 2001.

Source: 24 CFR §221.1(a) · source URL · snapshot d5cc9d8131255b46

24 CFR §221.1(b)

(b) Subpart A of this part, as it existed immediately before February 20, 2001, will continue to govern the rights and obligations of insured mortgage lenders, mortgagors, and HUD with respect to section 221(d)(2) single family loans insured before February 20, 2001, or in accordance with paragraph (a) of this section, pursuant to the applicable provisions of this subpart.

Source: 24 CFR §221.1(b) · source URL · snapshot d5cc9d8131255b46

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Source of record: https://claudeforcompliance.com/regs/fha-24cfr-221-1/ · register fha-24cfr-221-1 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.